Chinese Vice Premier met with European Commission Vice President Jyrki Katainen in Beijing today. After the meeting, Liu said in a media briefing that “both sides believe that we must resolutely oppose unilateralism and trade protectionism and prevent such behavior from causing volatility and recession in the global economy.” Additionally, both sides will prepare lists of proposals for bilateral investment agreement at another China-EU summit next month.

Katainen, on the other hand, emphasized there some areas must be addressed to take the economic, trade and investment relationship further. For example, he said “it is essential that we work together to tackle overcapacity in sectors such as steel and aluminum.” And he urged China to avoid overcapacity in other sectors too, including those targeted by the “Made in China 2025” initiative.

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